Creditors demand $32.4 million but Montreal Formula E has few assets

Montréal c’est électrique’s creditors say they are owed $32.4 million, but the organizer of last year’s ill-fated Formula E electric car race left assets of no more than $462,000.
The non-profit organization, set up by the city of Montreal, closed shop this month after Mayor Valérie Plante cancelled plans to hold races in 2018 and 2019. She described Formula E, a pet project of former mayor Denis Coderre, as a “financial